Comments | snow_lynx: Mileage Expense

snow_lynx

Mileage Expense

Feb 03, 2006 18:19

To anyone who does their own taxes:

What is the claim per mile again? $0.37?

EDIT: Okay, now that we've gotten that figured out ($0.405/mile, TY txreisinde!), anyone know what the personal business per diem is? I think it was $40/day, with 75% first/last day, last year, but don't know what it is this year. I can always just tally the days and ask H&R ( Read more... )

Comments 6

gem_handler February 4 2006, 00:35:32 UTC

It may be up to $0.38/mi now. But, if you've kept reciepts, you might be able to get a bigger deduction from a proportional business use percentage of your vehicle than straight mileage. I know I usually was.

If you haven't kept reciepts, but have a log of the miles, use the mileage.

snow_lynx February 4 2006, 00:45:13 UTC

I have mileage logs and toll receipts... I'll ask H&R Block which would yeild me better. I've now SOLD that vehicle, so.

Would be GREAT if it's up to 38 cents! This NYC trip SLAYED me.

Thanks!

You're in luck txreisende February 4 2006, 00:49:05 UTC

They raised the mileage claim rate for 2005 to $0.405 per mile.

http://www.irs.gov/newsroom/article/0,,id=131232,00.html

Hope it helps :)

Re: You're in luck snow_lynx February 4 2006, 01:11:24 UTC

Woohoo!!!!!!!!!!!!!! Yes, it does! Thank you!

Thread 5

keishthramoth February 6 2006, 15:09:17 UTC

per diem is $34/day plus incidentals. Thus saying $40/day is probably about right, but $34 is what we use for all state employees.
mileage was $.405 Jan-Aug and $.485 Sept-Dec.
For 2006, mileage is $.445 as of Jan 1. Who knows when it will change again!

I reimburse all the travel for state employees, so I know this fun stuff. yippee.